Every quarter the Western Mountain Resort Alliance compares several of the leading western resort town real estate markets. Based on these numbers, the resort market in general looks very strong. Across the board, statistical evidence suggests that resort markets are healthy with measured, steady growth.

One of the more surprising figures to arise in the Second Quarter report was the extent to which Park City leads other comparative markets in terms of sold volume. Total volume sold this quarter in Park City amounted to $461 million. For comparison, Tahoe reported the next highest sold volume with $386 million, and Teton (Jackson) reported $190 million. Our market remains segmented, but there's no doubt that inventory is moving.

On the other hand, our single family median and average sales prices are right in the middle of numbers reported by other towns. Our median single family home sales price of $775,000 sits below that of Whistler ($1.4 million), Teton ($1.2 million), and Big Sky ($873,000) but above that of Steamboat ($478,000), Tahoe ($548,000), and Sun Valley ($449,000). This suggests that our pricing is stable and reasonable when compared to other resort marketplaces.

SAM MagazineDenver, Colo., July 21, 2015Summer revenues among lodging properties at 19 mountain destinations in six mountain states are up 12.5 percent over last year, while future reservations are up 6.8 percent. The figures, compiled by DestiMetrics, are based on occupancy and bookings for the six months from May through October.

Ralf Garrison, director of DestiMetrics, highlighted that revenues for June alone were up 8.1 percent and occupancy was up 4.8 percent compared to June 2014. Bookings made in June for the remainder of the summer remained strong, and 74 percent of last summers entire business has already been realized or booked, he added.

Within the West region, Rocky Mountain resorts posted a 12.9 percent gain in revenue while resorts in the Far West posted an 11 percent gain. Occupancy was up 6.2 and 10 percent, respectively.

Were continuing to see gains in most metrics in all the summer months, and we anticipate a continuation of current trends. Its likely that this summer will be another one for the record books in many mountain resort communities, Garrison said.

Tom Foley, operations director for DestiMetrics, said that the recent decline of the Euro and Canadian dollar does not appear to be having a direct impact on mountain travel.

In true Park City fashion, the entire town seemed in attendance at Legacy Lodge for Vail Resort's announcement of One Park City, its new brand and resort launch. After the intro video, Vail's Chief Operating Officer and Chief Marketing Officer spoke about the new brand and Vail's progress-to-date on its $50 Million improvement plan.

The biggest takeaway: the largest resort in America is now operating right here in Park City. After $50 million in capital improvements, which will be completed in time for opening this winter, mountain visitors will have access to 7,300 acres of ski terrain, 17 peaks, and a resort that extends 6.5 miles in length.

The new Quicksilver gondola is proceeding on schedule and will be operational for the 2015-2016 season. Vail Resorts settled on the name "Quicksilver" because it denotes Park City's mining history and the speed of the 8-person, state of the art conveyance, which transports riders from the base of Silverlode to the Flatiron Lift via Pinecone Ridge in just 8 minutes.

The restaurant formerly known as Snow Hut, has been re-named Miners Camp and will seat 500. Additional improvements and expansions will be made to Red Pine Lodge (capacity will be expanded by 250 seats), Summit House, and Legacy Lodge. Snow making has been added to Iron Mountain and near the gondola.

The new resort will operate under the sole name, Park City. The logo was re-purposed from Canyons Resort and has the tagline, "There is only one. Park City."

Here are the latest stats on Deer Valley Real Estate. Condos are moving, and the area remains a hub of buyer interest. Be sure to supplement your real estate search and enjoy the resort's mountain biking, hiking, and outdoor concerts.

UPPER DEER VALLEY SINGLE FAMILY

Stein Eriksen Residences continue to garner tremendous interest and praise. These contemporary pads offer both single family and condominium options and come with a suite of luxury amenities that are a credit to the famed Stein Eriksen brand. In general, interest has not waned in the slightest for homes in the coveted Upper Deer Valley neighborhood. As Park City continues on its path of evolution, the reliable quality of Deer Valley Resort and its real estate still resonates strongly with buyers.

UPPER DEER VALLEY CONDOMINIUMS

One of the broader trends we are seeing in Park City is an unprecedented number of condominium sales. If you look at both condo sales in Upper and Lower Deer Valley you get a sense for the popularity of this product type. Many buyers are attracted by the all-inclusive amenities, intimate gathering spaces, and general convenience of condos. Also, condos are strong potential sources of rental income.

LOWER DEER VALLEY SINGLE FAMILY

LOWER DEER VALLEY CONDOMINIUM

Like we said, condos are moving in DV! With 71 sales in the last year, we feel confident saying this a popular product type within Park City's market. We have witnessed a new buyer type emerge in the last few years. Today's buyer is sophisticated, decisive, tech savvy, and financially empowered. Many Deer Valley condo buyers fall into this category of firm clients.

After $1 million in improvements by the Eccles family, the Utah Olympic Park will debut its new its ramps this weekend. Park City continues to be a hub of national and olympic athlete teams, which helps preserve the authentic mountain character of our community.

We are stoked to see this generation's athletes launch off this Saturday in their much deserved new training facilities. There are already rumors of Salt Lake being the site of another Olympic games. These additions to UOP are certain to help make that a reality.

Spring has arrived in Park City and has brought with it some pretty big changes.

Vail Resorts has started its $50 million dollar improvement plan. Construction has begun on the interconnect gondola and the new Snow Hut restaurant and is proceeding apace. We are thrilled to see the astounding rate of progress and are ready to meet the change these evolutions will bring to Park City.

Construction on the new Interconnect Gondola

Canyons Resort has also opened its new golf course and is taking reservations. This new course is the latest major addition to the resort's already robust list of available amenities. Park City has become quite the golf destination and now boasts thirteen courses many of which have championship destination. The fairways are green and the weather fair--time to dust off the clubs.

Finally, Park City's new state-of-the-art library opens June 13. We are thrilled to welcome back our much missed literary hub. The new building seamlessly integrates the beloved brick facade of the old High School building and new contemporary features. The new space will feature a coffee shop, educational offerings, communal space, and more books!

In addition to these novel developments, Park City's usual summer offerings have begun. Be sure to check out:

As part of BHHS Utah's "In Conversation with..." series, we sat down with Kim McClelland, Director of Lodging Operations for Deer Valley Resort. We were interested to see if McClelland had witnessed any outstanding trends, how business had been throughout the season, and any noteworthy visitor behaviors.

Although The Greatest Snow on Earth was conspicuously absent this winter, Park Citys three resorts successfully utilized their snow making and grooming capabilities to continue to provide a world class experience to visiting and local skiers.

So the obvious question is what impact did the paucity of snow have on Park Citys business activity? The answer is surprising little. Because of the outstanding capabilities of the resorts to make snow, combined with the strong brand identity Park City has built over the years and its ease of access, business has been very strong throughout the community.

Restaurants appear to be pacing ahead of last year. A number of business owners in the service industry are reporting gains in the range of 6% to 10% over last year. The lodging community is also reporting business levels that are up, and everyone is anticipating a strong finish to the season. At Deer Valley, our lodging numbers are pacing ahead of last year by 9%.

This season brought a strong influx of international travelers, which significantly supported business levels. According to our stats, Australia accounted for the largest number of international visitors followed by Mexico and Brazil. Domestically, our #1 destination market remains California followed by Texas, New York, New Jersey and then rounding out the top 5 is a virtual tie between Florida and Illinois.

The unseasonably warm temperatures and lack of snow on the West coast and along the Northwest corridor most probably resulted in more Park City visitors. Special events like the Sundance Film Festival, Visa Freestyle International World Cup at Deer Valley and the Grand Prix races at Park City continue to draw additional pulses of visitors and media attention.

Overall, the consensus around the community was that the 2014-15 ski season was a successful one, with business activity pacing at least as well as last year if not a little better. That is an amazing accomplishment given Mother Natures lack of cooperation this year. This seasons success stands as a testament to Park Citys recognition as one of the premier destinations in the country.

We are thrilled to see this summers outstanding cast of performers at the Deer Valley Concert series. Theres a great mix of musical genres and all the artists are legends. Its great to see our town build on its already tremendous cultural offerings.

Tickets go on sale for Park City Institute members on Monday, April 6, at 10 a.m. by phone at 435-644-3114 or at the box office at 1750 Kearns Blvd. Tickets for the general public will be available starting Monday, April 20.

Passing the final hurdle, Vail Resorts was granted approval by City Hall to establish a gondola, which when completed, will connect Park City Mountain Resort and Canyons Resort. The result will be the largest ski area in the United States.

The City Hall vote was in unanimous support of Vails delivered proposal. In addition to the gondola, Vails other 50 million dollars of proposed improvements were green lighted by the city. While the gondola is the most critical infrastructure aspect necessary to complete the combined resort, Vail listed several very necessary improvements that will improve skier experience. On-mountain dining, lodging, and other aspects were named as significant priorities.

The gondola will carry eight-passengers and covers nearly 1.5 miles, and terminates right in the middle of The Colony, one of our exclusive development listings. This new super resort will allow skiers to explore most of the length of the Park City ridgeline.

Vail has brought a lot of excitement to our town and the ski industry in general this last year. Its a perfect moment for existing residents and interested buyers to discuss the implications of Vails thunderous arrival and bold plans on the real estate market. BHHS Utah looks forward to helping the town manage the growth that will surely resultwe feel strongly in both preserving the character of Park City and contributing to its evolution.

Spring skiing in Utah is a rite of passage. Locals greet the month of March with great enthusiasm in anticipation of Spring Gruv, Pond Skimming, and on-mountain Easter egg hunts. Its an ideal time to ski with kiddosthe sun is out; the weather is warm; and, there are a variety of fun events.

On March 21st, Canyons Resort will launch its 8th annual Spring Gruv, which includes 10 days of live concerts in the Resort Village as well as the much beloved Pond Skimming Contest. Locals and visitors alike flock to Red Pine Lodge to watch contestants wearing inventive costumes attempt to cross a 100-foot pond on skis or snowboard. The competition is kicked-off with traditional Swiss Horns (to convey the seriousness of this event ;) ) and is followed by a live performance. This years featured musical act is Nahko and Medicine for the People. Trust us, you dont want to miss this one.

PCMRs family carnival features 9 days of live music, avalanche dog meets, a movie night, and culminates in the much loved Easter Egg Hunt. The scavenger hunt for Easter eggs covers the entire ski area and anyone with a pass can join the search. Prizes include coupons for food, gear, tickets, and the golden egg holds a free season pass within. Younger kids can meet the Easter bunny and enjoy fun activities.

All three resorts have a pretty big blow out part on the last day of the season. Probably April 12th this season. Costumes and smiles are encouraged.

Winter returned in time for this weekend's freeskiing and snowboarding competition at Park City Mountain Resort. BHHS Utah was on the scene to capture these bold athletes getting elevated. Watch your heart rate...these tricks are insane!

The 2014-2015 ski season has proven quite exciting with the arrival of Vail Resorts in Park City. The proposed changes to Park Citys resort landscape have impacted real estate trends on the slopes in interesting and unprecedented ways. Across the board, we are seeing a stunning increase in new construction and vacant land purchases. Consumers seem fixated on new construction and building. Amenities are also frequently cited as a strong point of consideration among buyers.

All of these preferences amount to a new kind of buyer.

In the Colony, our development agents are reporting a record-breaking number of builds taking place and tremendous interest from buyers about locating near the base of the planned and approved gondola connecting Park City Mountain Resort and Canyons Resort, which ends right in the middle of the Colony development. In the last year, 21 lots have sold in the Colony, and there are currently a total of 45 homes under construction or in the SARC process.

In upper Deer Valley, we have seen steady buyer interest. Again, we are seeing a new demographic of buyer emerge: one that wants newer builds, hotel-level amenities, ski access, and a good investment. Our Deer Valley developments have all reported strong sales and remarkable demand for new product.

Deer Crest currently has the lowest amount of inventory since the developments inception. Theres a wide swing in prices, several resale lots, and great demand for land. In 2014, all new Deer Crest homes sold, most before construction was completed. Theres also less demand for large homes the priority seems to be intimate family gathering spots with ski access.

The St. Regis at Deer Valley has seen quite a lot of activity: residences are almost sold out and there has been good turnover with the condos.

Deer Pointe townhomes are pre-selling as theyre coming on the market. The hill track ski lift, which takes Deer Pointe residents to Jordanelle skiing, has been completed.

The Stein Eriksen Residences have continued to sell at an unprecedented pace. Currently, 36 of the 54 residences have sold. SER has capitalized on the new demographic of buyer by offering a perfect storm of features: brand new construction, ski-in/ski-out construction, great amenities, fresh contemporary design and finishes, views, and the Steins five star, five diamond management team and name.

Overall, our ski developments have seen a stream of buyers all expressing the same demands: new builds, ski access, amenities, and family gathering spaces.

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